Coronavirus: UK borrowing soars to record £103.7bn in a month

Image credit: Reuters London

British retail sales rebounded much more strongly than expected last month but public borrowing came in at a record high, as the country gradually relaxed its coronavirus lockdown, official data showed on Friday.

Sales volumes in May jumped by a record 12.0% after a historic 18.0% slump in April - a rise at the top end of economist forecasts in a recent poll but which still leaves retail sales 13.1% down on a year ago.

Public sector net borrowing came in at 55.2 billion pounds in May - a record high after April’s reading was revised down to 48.5 billion pounds from 62.1 billion.

Source: Reuters London

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